'Grants Riverpark' Document Submission Starts from the 17th of This Month

- Kitchen appliances, AI air conditioners, Euromobil, and more provided free of charge
- Winners announced on August 16, document submission for winners open for 3 days from the 17th

[Granz River Park Panoramic View]

As the first high-end apartment in Gangdong-gu within the Gangnam 4 districts, 'Granz Riverpark,' considered one of the biggest releases in Seoul's summer housing market, has succeeded in attracting strong subscription interest.

According to the Korea Real Estate Board's 'Cheongyak Home,' Granz Riverpark received 3,169 subscription applications for 189 units (excluding special supply) during the first-priority subscription on the 8th (Thursday), resulting in an average competition rate of 16.76 to 1. Including the special supply conducted the previous day, a total of 4,484 applications were submitted, with the highest competition rate reaching 89.75 to 1 (44㎡ B-type, combined for the relevant and other areas).

The industry evaluates that this result was somewhat expected. As the first high-end apartment in Gangdong-gu, it holds symbolic value and is regarded as a landmark complex in Gangdong.

In fact, the complex boasts excellent product quality befitting a representative high-end complex in Gangdong. Granz Riverpark focuses on top-tier features such as external special designs (curtain wall look, landscape lighting, etc.), high-end unit specializations (for exclusive areas of 59㎡ or larger), full home appliances (for exclusive areas of 59㎡ or larger, including bespoke kitchen full appliances and free provision of four or more AI air conditioners), and the application of Italy's premium luxury kitchen furniture Euromobil (free provision of the LAIN model for exclusive areas of 59㎡ or larger).

The location is also excellent. It offers a double station area within walking distance to Cheonho Station on lines 5 and 8 and Gangdong Station on line 5, along with river and city views (for many units) overlooking the Han River and Seoul city center, which has been continuously praised for its outstanding residential environment, contributing to the positive outcome.

Reasonable pricing also played a role. The market price for an 84㎡ unit at 'Lotte Castle East Pole' in Gwangjin-gu, which is about to be occupied, is around 2 to 2.1 billion KRW (initial sale price about 1.4 billion KRW a year ago). The 84㎡ unit at 'Olympic Park Foreon' in Dunchon-dong was traded at 2.35 billion KRW (initial sale price in the high 1.3 billion KRW range), with current asking prices rising to 2.4 to 2.6 billion KRW. Nearby Jungheung S-Class apartments have seen steep price increases, making it difficult to find listings, with only units priced at 63 million KRW per 3.3㎡ remaining, indicating that occupancy rights prices have sharply risen by about 700 million to 1 billion KRW.

A real estate agent in Seongnae-dong, Mr. A, stated, "In the case of the already occupied Goduk Gracium in Gangdong-gu, the actual transaction price for an 84㎡ unit exceeds 2 billion KRW, showing a steep upward trend. The upcoming lifting of resale restrictions in Cheonho 3 and Cheonho 4 districts is also expected to cause a sharp increase in occupancy right premiums." He added, "Granz Riverpark, attracting attention as a new landmark in Gangdong, is a rare high-end apartment with strong price appreciation potential, and despite this, it offers a last chance to purchase at prices lower than nearby occupancy right market prices or older apartment prices."

The remaining schedule for Granz Riverpark includes document submission for winners (including standby winners) from August 17 (Saturday) to 19 (Monday) for three days, followed by official contracts from August 27 (Tuesday) to 29 (Thursday) for three days.

A sales official said, "We expect a large crowd for the document submission of winners this time, so the submission will be conducted by prior reservation, and individual text messages will be sent to winners (including standby winners)." He added, "We will present a landmark complex that can repay the high interest and support for Gangdong-gu's first high-end residential product."

The Granz Riverpark housing exhibition center is currently operating in Seongnae-dong, Gangdong-gu, Seoul.

This content was produced with the assistance of AI translation services.